Insider Brief
- JFB Construction Holdings has agreed to merge with defense software company XTEND in an all-stock transaction that will pivot the Nasdaq-listed builder into AI-driven robotics and rebrand the combined entity as XTEND AI Robotics, according to JFB Construction Holdings.
- XTEND shareholders will own about 70% of the fully diluted company and JFB shareholders roughly 30%, with the new company expected to trade under the ticker “XTND” following a targeted mid-2026 close, backed by investors including Eric Trump, Unusual Machines, American Ventures, Protego Ventures and Aliya Capital.
- XTEND develops autonomous defense systems built on its AI-based operating system and operates a Tampa production facility, with the merger expected to expand U.S. manufacturing capacity as XTEND gains public-market access and JFB shifts its strategic focus toward defense technology.
JFB Construction Holdings has agreed to combine with defense software company XTEND in an all-stock transaction that would shift the Nasdaq-listed builder into AI-driven robotics, according to JFB Construction Holdings.
“The demand for systems that keep operators out of harm’s way is surging as the global security environment grows more volatile, and this represents one of the largest market opportunities in defense technology today,” noted Aviv Shapira, Chief Executive Officer and Co-Founder of XTEND. “By combining our platform with JFB, we are acquiring the resources we need to scale our manufacturing capabilities in the U.S. and gaining access to the U.S. public markets.”
Under the terms of the deal, XTEND shareholders will own about 70% of the combined company on a fully diluted basis, with JFB shareholders holding roughly 30%, excluding shares reserved for equity incentive plans. The merged entity is expected to be renamed XTEND AI Robotics and trade on Nasdaq under the ticker “XTND,” with the transaction targeted to close in mid-2026.
JFB said the business combination is backed by strategic investors including Eric Trump, Unusual Machines, American Ventures, Protego Ventures and Aliya Capital. Financial terms were not disclosed.
XTEND develops autonomous systems for defense and security applications built around its AI-based XTEND Operating System. The company operates a production facility in Tampa, Florida, and said the transaction is expected to support expanded U.S. manufacturing capacity, including NDAA-compliant production for domestic and allied customers.
“What drew us to XTEND is the strength and scalability of its AI-driven operating system,” Chief Executive Officer of JFB Joseph F. Basile III said in the announcement. “XOS is not just a product, but a core autonomy platform that integrates software, hardware, and mission execution in real-world environments. By pairing XTEND’s operating system and advanced AI capabilities with JFB’s execution, infrastructure, and buildout expertise, we see a clear opportunity to accelerate U.S. manufacturing, scale production responsibly, and support a next-generation defense technology platform built in America and ready for the public markets.”
The merger has been unanimously approved by both boards, and JFB shareholders holding a majority of outstanding common stock have provided written consent, JFB inndicated. Stifel is serving as financial advisor to XTEND, while Dominari Securities is acting as exclusive placement agent to JFB.
